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December 13th, 2021: SP-500 Chart Update

Posted by pugsma on December 13, 2021

11:25 am EST: The SP-500 gapped down from 4712 to 4710, slowly dropped to 4676…

The primary (white/green) count is that minor 2 of major [5]-P1-C3 played out as a 3-3-3 double zig-zag that ended at 4495 and the minor 3 of major [5] wave up is underway towards 5000+. The first 5-wave move up from 4495 to 4612 completed wave i-(1) of minor 3. The wave ii-(1) was a shallow retrace 4588, followed by a wave iii-(1) up to 4694. Wave iv-(1) was a 23% Fib retrace to 4666 and wave v-(1) reached 4713. Note wave v-(1) had to end by iii=v at 4774 so that wave iii is not the shortest wave. The minute (2) wave is underway and should retrace to the 38%/50%/62% Fib area at 4630/4605/4578. Once minute (2) completes, wave minute (3) of minor 3 should break above 4743 head toward 4959, where (3)=1.62(1). Note: The primary (white/green) count for minor 3 of major [5] remains valid above the minor 2 low 4495 and is confirmed on a break above 4743.

The alternate (blue) count is major [3]-P5-C3 peaked 4743 and a major [4] wave is currently unfolding. The drop from 4743 to 4495 was minor A of major [4] and move up from 4495 to 4713 was minor B of major [4]. Next the minor C wave should target C=1.62A at 4311, which is the 23% Fib retrace for major [4] at 4334. Note: The alternate (blue) count is valid below 4743 and is confirmed on a break below 4495.

SP-500 15-min chart:

SP500 Technical Analysis

SP-500 60-min chart:

SP500 Technical Analysis

SP-500 4-hr chart:

SP500 Technical Analysis

SP-500 daily chart:

SP500 Technical Analysis

SP-500 weekly chart:

SP500 Technical Analysis

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